Big Bitcoin prediction, OKEx spooks markets, Ripple exec’s big mistake

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   Calm before the storm? Analyst says $20,000 Bitcoin is possible in three months Bitcoin volatility has fallen to a 16-month low, indicating that a sharp move is on the horizon. Large fluctuations tend to follow prolonged periods of consolidation, and according to a Bitazu Capital founding partner, Mohit Sorout, BTC could reach its previous all-time high if it was to break out today. There…

Chasing the hottest trends in crypto, the EU works to rein in stablecoins and DeFi

In cryptoland, the fall tends to be regulators’ open season. As unprecedented as it’s been, 2020 is no exception to this trend. Tensions are high on both sides of the Atlantic: As markets were still processing the news of the United States Commodity Futures Trading Commission cracking down on derivatives exchange platform BitMEX, the Financial Conduct Authority, the British financial watchdog, moved to ban retail investors from using cryptocurrency derivatives altogether. The densely packed news cycle has somewhat muffled the impact of another regulatory bomb that dropped a week earlier…

Yearn.finance Rockets Higher Following Reports of Polychain Taking a $5m Position

Yearn.finance’s YFI governance token has seen a strong rebound over the past 24 hours. Its price had previously been facing an unrelenting selloff that drove it down towards $13,000, but it has since formed a “v-shaped” recovery. The intensity of the rally seen over the past day has come about due to news of a major crypto fund reportedly investing $5 million into YFI, acquiring this position over the past few days. That being said, one investor is noting that this position on its own doesn’t provide much insight into…

Former patrons can’t drown sorrows as first-ever bar to accept Bitcoin closes

A legendary bar and restaurant in Germany that was reportedly the first to ever accept cryptocurrency as a form of payment has permanently closed. According to an Oct. 18 Reddit post from Joerg Platzer, founder of Room 77, the first brick-and-mortar business to accept Bitcoin (BTC) is no longer accepting customers and has shuttered its doors. In a goodbye message riddled with references to Douglas Adams’ The Hitchhiker’s Guide to the Galaxy, Platzer said “thanks again for all the fish and the generous tips” after more than 15 years in…

With job listing, Canada’s central bank takes additional steps towards a CBDC

The Bank of Canada is looking to hire an economist who has a deep knowledge of financial technology and digital currencies, potentially signaling the latest in a series of steps towards a Canadian Central Bank Digital Currency (CBDC).  According to the bank’s official page, the economist’s duties will be to monitor and analyze the latest developments related to electronic funds and payments, implement research projects, prepare analytical notes, and work on the “potential development of a CBDC.” The Bank has defined a set of requirements that the applicant must meet,…

These Factors Suggest Ethereum is About to Post a Massive Push Higher

Ethereum has been stuck below $380 for the past few days, which is a critical level that has long held serious influence over the entire crypto market. If it remains stuck below this level, it could be a sign that bulls are losing their edge over the asset and that further downside is imminent. ETH’s near-term outlook appears to remain largely correlated to Bitcoin, as the benchmark cryptocurrency has been providing firm guidance to the altcoin market as of late. This isn’t a bad thing, as BTC is stable at…

Fool’s gold? Peter Schiff’s bank under investigation in tax evasion probe

This morning, millionaire broker and noted Bitcoin skeptic Peter Schiff awoke to find his bank under renewed scrutiny due to an international criminal investigation.  According to reporting from Australian newspaper The Age and The New York Times, the J5 — a joint task force of tax authorities from major Western governments convened in the wake of the bombshell publication of the Panama Papers — have placed “hundreds” of accounts at Schiff’s Puerto Rico-based Euro Pacific Bank under investigation for tax evasion and other financial crimes.  The reports detail what appears…

The effect of CME Bitcoin futures on Bitcoin price

The price of one actual Bitcoin on the open crypto market, known as spot BTC, fluctuates based on a countless number of factors, such as trading volume, usage and adoption. However, other catalysts affect the asset in a roundabout manner. Cash-settled Bitcoin futures trading products from the Chicago Mercantile Exchange stand as one arguable highly referenced indirect element contributing to Bitcoin’s (BTC) price direction.  “The Bitcoin derivative products offered by CME are simply a vehicle for accredited investors to place sophisticated and risk-offsetting trades that would otherwise be inaccessible to…

Blockchain to curb fake news

With the United States Presidential Election set for next month, the concern over fake news has once again dominated public discourse. Fake news — the deliberate spreading of verifiably false information under the disguise of being an authentic news story ­— not only undermines the public’s confidence in the free press, it inflames social conflict, can result in health hazards (like swallowing bleach in an attempt to avoid COVID-19), gives rise to radicalism, undermines the integrity of elections, and manipulates markets. In short, fake news threatens the social trust we…